Commercial unit at Upper Thomson up for sale with S$19.5m guide price

A FREEHOLD commercial unit at Thomson Imperial Court is up for sale in the market via an expression of interest (EOI) exercise, sole marketing agent SRI announced on Monday.

The guide price of S$19.5 million works out to about S$1,771 per square foot based on the unit's strata area.

The commercial unit occupies 11,011 square feet, representing about a 23 per cent stake within Thomson Imperial Court, SRI said.

Completed around 1999, Thomson Imperial Court is a mixed development comprising a retail podium from basement one to the first storey, as well as a residential block from second to the fourth storey.

The retail podium includes education centres, a foreign domestic worker agency and a supermarket among other amenities.

The commercial unit is located at basement one of Thomson Imperial Court and has direct access to the car park. It is currently tenanted to Sheng Siong Supermarket, which is the anchor tenant within the development, and enjoys a high footfall, according to SRI.

Located along Upper Thomson Road, Thomson Imperial Court is a five-minute walk to Upper Thomson MRT station on the Thomson-East Coast line, which is slated to be completed this year.

The property is also connected to the rest of the island via roads and expressways such as Lornie Road, Lornie Highway, the Pan Island Expressway (PIE) and the Central Expressway (CTE).

There will be no additional buyer's stamp duty or seller's stamp duty imposed and both foreigners and companies are eligible to purchase the property.

Said Low Choon Sin, managing partner at SRI Capital Markets: "This is an excellent opportunity to both investors and end-user to own a freehold commercial unit. The single unit commands a substantial controlling stake of approximately 23 per cent share value of the entire development.

"In addition, the majority share value stake will also provide a single owner with influence in the possibility of a future collective sale of the development."

The EOI exercise for the commercial unit at Thomson Imperial Court will close at 3pm on June 4.